Strathclyde pumps €50 million into renewables project

windfarm 410Scotland’s Strathclyde Pension Fund has invested in NTR, a Dublin-based renewable energy investor.

NTR has raised €85 million from Strathclyde and from the Ireland Strategic Investment Fund to build a new onshore wind portfolio in the British Isles.

The move sees the close of the wind investment fund that NTR created in conjunction with Legal & General Capital (LGC) after reaching its €250 million limit.

Strathclyde will plough €50 million in the project, in one of the investment fund’s largest renewable energy investments yet. The institutional giant has steadily increased its involvement in the renewables sector in recent years.

The LGC fund has already been deployed on a number of pre-construction wind farms in the UK and Ireland.

A spokesperson for NTR said it is exploring further prospects with LGC.

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